Regional Head - Bancassurance - Bank - West

Roles & Responsibilities :

Business/Department Objectives :

- Manage insurance function for the Branch banking network in assigned geographies

- Manage a team of insurance specialists and support them in revenue delivery and also in developing skill sets/talent

- Complete ownership on overall insurance business deliverable through supporting the business in revenue delivery and ensuring adherence to process requirements

Core Responsibilities :

- Deliver the annual plan for insurance (life, health and general insurance business) through the Branch banking network

- Ensuring the customer engagement by organizing meets and targeted campaigns to grow awareness

- Build the knowledge of insurance for supervisory levels in each business

- Highlight potential financial, regulatory and credit risk to the franchise for insurance sales

Day-to-Day Responsibilities :

- Manage relationship with insurance providers for the franchise locally

- Disseminate information on insurance industry, financial markets and competition products and analyze the same for a meaningful sales engagement

- Joint sales drills with RMs to facilitate insurance sales skills and ensure solicitation of the right insurance product

- Be extremely vigilant on sales quality parameters like potential sales complaints, free look cancellations, surrender ratios, lapse rates and sales complaints

Financial/Budgetary :

- Financial Goals for the branch network on various quantifiable parameters like:

- Business revenue

- Annualized New Business Premium

- Product Mix

- Renewal Persistency Levels

- Participation Rates

Key Deliverables:

- Draw up the training roadmap for the individual RMs and supervisors to ensure successful completion of the insurance training certification on regulatory knowledge, attitude, skills and habits

- Be the compliance gatekeeper in the region/branch for adherence to regulatory guidelines including and not limited to IRDA and RBI guidelines

- Support the sales team to sell insurance policies to the existing base through Portfolio Analysis, Financial Need analysis and Customer risk profile

- Client meetings are an integral part of this

Qualifications Required :

Education : MBA

Experience : 10 years of experience with minimum 5 years with an insurance company/bancassurance channel of a Private or MNC bank

Skills :

- Knowledge on insurance products, financial markets and regulations a key determinant

- Proficient in analytics and driven by digits

- Ability to communicate effectively to influence people

Other :

- Carries a highly focused sales demeanor

- Positive in outlook and can handle pressure cooker situations

- Drive, passion and focus to over-deliver on expectations

- Ability to get the job done even in an ambiguous environment

Preferred Certifications :

- CFP/CFA/AIII/FIII would be preferred

Skills :

- Knowledge on banking would be preferred

- Organizational Relationship